A new study published by the Federal Reserve Bank of New York took a sweeping, multi-year look at data about the debt Americans carry and how much we know about those debts. One strange finding: Single people are much better at …
Psychology of Money
What Your Supermarket Knows About You
The global financial crisis of 2009 hit consumers hard. Two years later, and they’re still reeling. Spending is down across the board, and even the more affluent are watching their pennies. In this fearful climate, retailers …
12 Things We Buy in a Bad Economy
The stumbling economic recovery has led many of us to rein in our expenses, even on necessities like diapers. But there are a few lucky sectors that benefit from a weak economy — things that let us escape, give us momentary …
One More Reason It Pays To Switch Banks
Recent media focus concerning the price of brand loyalty—sparked in part by Bank of America’s decision to start charging fees for debit card users—recalls some interesting research from a few years back that suggests there’s …
Is Your Partner Cheating On You? Blame the Economy!
Researchers at the University of Kansas just found one more piece of bad news about this so-called recovery: A crummy economy could prompt men, even those in monogamous relationships, to seek out more sex partners.
Higher Prices: The Odd Reward for Being a Loyal Customer
New customers are routinely wooed with special discounts for services like pay TV and newspaper subscriptions. Existing customers, on the other hand, can expect regularly escalating bills unless they put up a fight or beg for a …
Wealth Matters: Materialistic People Are Less Happy in Marriage
Hot on the heels of a study suggesting that people who have a car, investments or other personal wealth are more likely to marry drops the other shoe: a study that suggests that people who prioritize money are less likely to be …
Forget Prince Charming: Why Economic Education Is A Worldwide Imperative
As the severity of this recession sinks in, the call grows louder for a serious plan to help people help themselves when it comes to their finances. After all, things won’t get much better anytime soon.
Struggling for Investment Answers? It Helps To Reframe The Question
Tom ran a public opinion survey a while back where some of the respondents were asked if they believed they could save 20% of their income. Only half said yes. But when the other respondents were asked if they thought they could …
Wall Street Protests Get Specific: Could ‘Bank Transfer Day’ Pit Americans Against Their Big Banks?
The growing anger directed at U.S. banks (especially the big ones that took federal bailout funds) over recent fee increases coalesced this weekend into a Facebook-driven campaign urging Americans to close their accounts at large …
Why Gold Is Down (But Probably Not Out)
The recent collapse of gold prices is stirring a lot of conspiracy theories. Are the bars in Ft. Knox just painted bricks?
Was Bank of America Hacked?
Seven days after Bank of America instituted a hugely unpopular $5 fee for debit card use and six days into widespread reports from customers about error messages, slow service and other problems accessing the home page or other …
